Marc Steinberg wrote:
> I have to insure my newly-restored '63 B for a "stated value" as the book
> value is $500, according to State Farm. Any ideas about what a
> near-perfect '63 B is actually worth?
> -- Marc
I also have stated value insurance on the C/GT.
It's a quandry. On the one hand, you don't want to pay too much for the
insurance, but on the other (and this is the important part) the
insurance company *will never pay more* than your stated value.
Then, to insult you, the fine print of my policy says I have to have
reasonable proof the car is worth the stated value.
So you'd better do some research and provide documentation on you're
determination of stated value. Make sure these things are in your file
at your agents office: Things like a page from Hemmings, the Old Car
Price Guide, and photos of your car with a few 1st place trophies on the
bonnet. (Borrow the trophies if you have to!)
FWIW I'm paying $500 annually for $8K on the C/GT and there are no
driving restrictions with American Family here in Missouri.
Bob Allen, Kansas City, Insured: '69MGC/GT, '75TR6, '96 Dakota, '95Z28,
'86 Glastron, the house, the dog, etc, etc...
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